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Empyrean Capital Partners, LP

Q4 2025 · Filed 2026-02-17
Market Value
$2.6B
+21.0%
Holdings
97
+17
New Purchases
27
Added To
8
Closed
19
Reduced
14
Top 10 Concentration
39.2%
Turnover
47.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AXTA 2.52% 0.00% +2.52% $66M
UNH 2.43% 0.00% +2.43% $64M
WBD 2.19% 0.00% +2.19% $58M
COMM 1.42% 0.00% +1.42% $37M
B 1.36% 0.00% +1.36% $36M
CCXIU 1.36% 0.00% +1.36% $36M
ASH 1.21% 0.00% +1.21% $32M
THS 1.19% 0.00% +1.19% $31M
KVUE 1.14% 0.00% +1.14% $30M
COF 4.10% 3.02% +1.08% $108M
KBONU 1.01% 0.00% +1.01% $26M
IAC 1.01% 0.00% +1.01% $26M
QRVO 0.99% 0.00% +0.99% $26M
CMCSA 0.99% 0.00% +0.99% $26M
CRL 0.92% 0.00% +0.92% $24M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SHEL 4.76% 8.24% -3.48% $125M
AER 6.02% 8.36% -2.34% $158M
MPC 2.70% 4.99% -2.29% $71M
CCCX 0.00% 1.56% -1.56% $0
SATS 0.78% 2.00% -1.22% $21M
NG 0.96% 1.98% -1.02% $25M
TECK 0.00% 1.01% -1.01% $0
ATUS 1.57% 2.56% -0.99% $41M
LBRDK 1.70% 2.69% -0.99% $45M
AAMI 2.51% 3.42% -0.90% $66M
NMRK 2.88% 3.75% -0.87% $76M
LLYVK 0.00% 0.79% -0.79% $0
ALIT 0.00% 0.74% -0.74% $0
CAH 1.94% 2.58% -0.64% $51M
BTI 4.74% 5.38% -0.64% $125M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 2 $189M 7.2%
Large Cap 31 $1.3B 48.5%
Mid Cap 32 $820M 31.2%
Small Cap 24 $328M 12.5%
Micro Cap 8 $15M 0.6%

Portfolio Analytics

Avg Market Cap
$26.3B
Median Market Cap
$5.2B
Avg P/E
29.7
Median P/E
17.6
Avg Dividend Yield
0.03%
Avg Beta
0.79
# Stocks
97
# ETFs / Funds
0

Top Holdings (97 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AER 6.02% 1,100,000 $158M $143.76 -$23M -400,000 -26.7%
2 SHEL 4.76% 1,700,000 $125M $73.48 -$54M -800,000 -32.0%
3 BTI 4.74% 2,200,000 $125M $56.62 $8M
4 COF 4.10% 444,000 $108M $242.36 $42M +136,000 +44.2%
5 PCG 3.61% 5,900,000 $95M $16.07 $6M
6 CVS 3.51% 1,160,000 $92M $79.36 $13M +117,500 +11.3%
7 UNP 3.29% 373,800 $86M $231.32 $8M +41,800 +12.6%
8 TXNM 3.23% 1,442,554 $85M $58.88 $3M
9 STZ 3.08% 586,700 $81M $137.96 $20M +135,700 +30.1%
10 NMRK 2.88% 4,360,150 $76M $17.34 -$6M
11 MPC 2.70% 436,500 $71M $162.63 -$37M -126,000 -22.4%
12 ENVA 2.64% 441,564 $69M $157.20 $19M
13 AXTA 2.52% 2,050,000 $66M $32.31 +2,050,000 NEW
14 AAMI 2.51% 1,404,562 $66M $47.00 -$8M -136,546 -8.9%
15 UNH 2.43% 193,000 $64M $330.11 +193,000 NEW
16 NSC 2.24% 203,800 $59M $288.72 $18M +67,300 +49.3%
17 WBD 2.19% 2,000,000 $58M $28.82 +2,000,000 NEW
18 CAH 1.94% 247,800 $51M $205.50 -$5M -109,600 -30.7%
19 LBRDK 1.70% 920,781 $45M $48.60 -$14M
20 VTOL 1.69% 1,214,599 $44M $36.62 -$2M -61,401 -4.8%
21 ATUS 1.57% 25,028,407 $41M $1.65 -$14M +1,928,407 +8.3%
22 BCSS 1.55% 3,990,000 $41M $10.22 $519K
23 VSAT 1.49% 1,138,000 $39M $34.46 $6M
24 COMM 1.42% 2,060,000 $37M $18.13 +2,060,000 NEW
25 B 1.36% 821,000 $36M $43.55 +821,000 NEW
26 CCXIU 1.36% 3,500,000 $36M $10.21 +3,500,000 NEW
27 PSX 1.30% 264,800 $34M $129.04 $5M +48,000 +22.1%
28 ASH 1.21% 542,000 $32M $58.67 +542,000 NEW
29 NN 1.19% 1,886,000 $31M $16.64 $4M
30 THS 1.19% 1,320,000 $31M $23.59 +1,320,000 NEW
31 NNI 1.17% 231,000 $31M $132.96 $2M
32 KVUE 1.14% 1,732,000 $30M $17.25 +1,732,000 NEW
33 CCIX 1.07% 2,633,582 $28M $10.63 $395K
34 KBONU 1.01% 2,632,752 $26M $10.07 +2,632,752 NEW
35 IAC 1.01% 677,000 $26M $39.10 +677,000 NEW
36 QRVO 0.99% 309,000 $26M $84.51 +309,000 NEW
37 CMCSA 0.99% 868,700 $26M $29.89 +868,700 NEW
38 NG 0.96% 2,705,100 $25M $9.32 -$18M -2,188,466 -44.7%
39 PPTA 0.95% 1,028,853 $25M $24.21 -$6M -489,100 -32.2%
40 CRL 0.92% 121,500 $24M $199.48 +121,500 NEW
41 LBRDA 0.92% 500,000 $24M $48.28 -$8M
42 IQV 0.90% 104,650 $24M $225.41 +104,650 NEW
43 MDLZ 0.86% 418,000 $23M $53.83 +418,000 NEW
44 LBRT 0.84% 1,200,000 $22M $18.46 +1,200,000 NEW
45 SATS 0.78% 189,000 $21M $108.70 -$23M -381,000 -66.8%
46 BXSL 0.77% 765,000 $20M $26.33 +765,000 NEW
47 KMB 0.72% 187,200 $19M $100.89 +187,200 NEW
48 AMBP 0.62% 4,000,000 $16M $4.10 $440K
49 GTEN 0.58% 1,475,000 $15M $10.25 $59K
50 CTRI 0.56% 578,000 $15M $25.25 +578,000 NEW
51 TFX 0.55% 118,000 $14M $122.04 +118,000 NEW
52 AEXA 0.53% 1,230,000 $14M $11.39 $566K
53 SIRI 0.53% 692,775 $14M $19.99 -$7M -212,848 -23.5%
54 TDS 0.47% 300,000 $12M $41.00 $528K
55 UIHC 0.45% 940,500 $12M $12.63 $1M
56 DSACU 0.43% 1,132,000 $11M $10.04 +1,132,000 NEW
57 GLBKV 0.42% 293,218 $11M $37.21 $4M +109,062 +59.2%
58 RNAM 0.39% 143,000 $10M $72.13 +143,000 NEW
59 VHCPU 0.36% 950,000 $10M $10.02 +950,000 NEW
60 SNCY 0.35% 640,000 $9M $14.39 $564K -92,042 -12.6%
61 AGI 0.30% 203,300 $8M $38.58 -$6M -188,000 -48.0%
62 LLYVA 0.22% 72,250 $6M $81.50 +72,250 NEW
63 LAD 0.19% 15,400 $5M $332.33 +15,400 NEW
64 AEM 0.18% 27,700 $5M $169.53 -$10M -59,100 -68.1%
65 OXY 0.16% 104,900 $4M $41.12 -$5M -86,100 -45.1%
66 EQT 0.15% 71,600 $4M $53.60 -$59K
67 EXE 0.14% 34,500 $4M $110.36 $142K
68 GLBAV 0.14% 99,999 $4M $36.87 -$68K
69 RRC 0.14% 101,300 $4M $35.26 -$241K
70 AR 0.13% 101,400 $3M $34.46 $91K
71 CEPF 0.12% 300,000 $3M $10.28 $28K
72 CTRA 0.12% 115,400 $3M $26.32 $308K
73 VCIC 0.11% 266,123 $3M $10.77 +266,123 NEW
74 CRK 0.10% 118,900 $3M $23.18 $398K
75 CAEP 0.10% 250,000 $3M $10.20 -$30K
76 CCIXW 0.01% 440,000 $389K $0.88 $46K
77 COCHW —% 75,000 $3K $0.04 $98
78 BENFW —% 100,000 $1K $0.01 -$380
79 HNRG —% -$7M -354,476 -100.0% SOLD
80 AMN —% -$3M -150,000 -100.0% SOLD
81 AKAM —% -$4M -58,000 -100.0% SOLD
82 NGD —% -$9M -1,309,428 -100.0% SOLD
83 ALIT —% -$16M -4,930,000 -100.0% SOLD
84 NXE —% -$7M -751,000 -100.0% SOLD
85 SABR —% -$732K -400,000 -100.0% SOLD
86 ULCC —% -$3M -723,439 -100.0% SOLD
87 TONX —% -$1M -192,621 -100.0% SOLD
88 LLYVK —% -$17M -175,771 -100.0% SOLD
89 NE —% -$4M -137,000 -100.0% SOLD
90 MAGN —% -$5M -436,260 -100.0% SOLD
91 TECK —% -$22M -500,000 -100.0% SOLD
92 CCCX —% -$34M -2,640,000 -100.0% SOLD
93 BDCIU —% -$2M -150,000 -100.0% SOLD
94 SOCAU —% -$7M -700,000 -100.0% SOLD
95 VAL —% -$9M -191,700 -100.0% SOLD
96 BP —% -$8M -245,000 -100.0% SOLD
97 FCRS —% -$2M -175,000 -100.0% SOLD

New Positions

SymbolValue% Port
AXTA $66M 2.52%
UNH $64M 2.43%
WBD $58M 2.19%
COMM $37M 1.42%
B $36M 1.36%
CCXIU $36M 1.36%
ASH $32M 1.21%
THS $31M 1.19%
KVUE $30M 1.14%
KBONU $26M 1.01%
IAC $26M 1.01%
QRVO $26M 0.99%
CMCSA $26M 0.99%
CRL $24M 0.92%
IQV $24M 0.90%

Sold Out Positions

SymbolValue% Port
HNRG —%
TECK —%
VAL —%
BP —%
NXE —%
NE —%
FCRS —%
ALIT —%
MAGN —%
AMN —%
LLYVK —%
AKAM —%
TONX —%
SABR —%
ULCC —%
View SEC EDGAR Filings for Empyrean Capital Partners, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms